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Tesla 's board of directors may tell CEO Elon Musk to recuse himself as it explores the possibility of taking the company private, CNBC reports, citing people familiar with the matter.
According to the publication, the board plans to meet with financial advisors to determine how it will explore the idea of how to convert Tesla into a private company and has told Musk that he must consult a separate, personal set of advisors.
The board will probably form a smaller, special committee comprised of independent directors to analyze buyout proposals, CNBC reports.
According...Read more ...

As the internet's most-read auto website among the elite billionaires of the world, I can't believe I've yet to solicit tips from one of our most beloved group of readers on this: Do you know who is backing Elon Musk's bid to take Tesla private? No one seems to have any idea. Do you?Read more ...

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Tesla surged more than 10% Tuesday after Elon Musk said he was considering taking the company private.
However a lack of more information and a reported investigation by federal regulators have wiped out the gains.
Follow Tesla's stock price in real-time here.
Shares of Tesla have rolled over and given up their more than 10% gains from Tuesday when CEO Elon Musk tweeted that he was considering taking the company private at $420 share.
The stock declined more than 6% Thursday, falling as low as $346.49. When Musk's cryptic tweet sent shockwaves through markets at...Read more ...

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The Securities and Exchange Commission is "intensifying" its inquiry into Tesla , Bloomberg reports.
According to the publication, the agency was gathering information about statements Tesla has made regarding sales and manufacturing targets before its most recent inquiry.
The SEC and Tesla declined Business Insider's requests for comment.
The SEC on Wednesday asked Tesla about whether one of CEO Elon Musk 's tweets regarding the possibility of taking the company private was truthful, The Wall Street Journal reported .
The Securities and Exchange Commission is...Read more ...